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Daniel Crosby

74 Podcast Episodes

Latest 28 Jan 2023 | Updated Daily

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Why We’re Paying Attention to the Wrong Things, with Dr. Daniel Crosby

Afford Anything

#413: If an idea dominates the headlines, we notice it.But maybe we shouldn’t.Today’s guest, psychologist and behavioral finance expert Dr. Daniel Crosby, says there’s a difference between a prediction that gets repeated, and one that’s likely to unfold. What’s salient isn’t accurate, he says. And vice versa. He also talks about how money problems have morphed over time. He chats about how our evolutionary wiring is at odds with our goals. And he even discusses how we’re wired to be ‘lazy’ – and how to work with that tendency instead of fighting an uphill battle against it.Dr. Crosby researches the intersection of mind and markets. His latest work, The Behavioral Investor, is an in-depth look at how sociology, psychology and neurology impact our investment choices. Timing of discussion points as of December 2022:03:10: The overlap between psychology and investing + new ideas04:41: Counterintuitive behavioral finance discoveries 07:27: Money as a “hygiene factor”08:39: The “new class” of money problems for the more affluent13:44: Factors that impact our financial decisions15:22: The influence of evolutionary wiring 17:02: Cognitive and physical wiring leading to laziness and group think27:45: The benefit of community for investors28:52: The four types of behavioral risk: ego, conservatism, attention, and emotion36:21: The three E’s of behavior change: education, environment, encouragement42:30:  Confusing things that are loud with things that are likely45:21: The risk of managing emotionFor more information, visit the show notes at https://affordanything.com/episode413 Learn more about your ad choices. Visit podcastchoices.com/adchoices


16 Nov 2022

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MI Rewind: The Psychology of Money & Behavioral Finance w/ Daniel Crosby

Millennial Investing - The Investor’s Podcast Network

IN THIS EPISODE, YOU’LL LEARN: 02:42 - What behavioral finance is and why behavioral finance has a big impact on one’s success as an investor.06:22 - Daniel’s most important money lessons and why investors need to get them right.11:03 - Whether money can buy happiness or not.23:44 - Daniel’s framework on whether you should pick individual stocks in your portfolio, or just invest in low-cost index funds.27:26 - Why stock picking can be very difficult for individual investors.And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Daniel Crosby’s podcast Standard Deviations.Daniel Crosby’s book The Laws of Wealth.Daniel Crosby’s book Behavioral Investor.Daniel Crosby’s book You’re Not That Great.Related Episode: Buffett Indicator Says Stock Market is Overvalued w/ Lance Roberts - MI230. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Try Robert and Rebecca’s favorite tool for picking stock winners and managing our portfolios: TIP Finance.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today! SPONSORS Get a FREE audiobook from Audible.Invest in high quality, cash flowing real estate without all of the hassle with Passive Investing.Private assets represent 98% of companies in North America but are absent in most portfolios. Reconstruct your portfolio with private markets with Mackenzie Investments.Take a position daily on potential price movements, and gain exposure while limiting risk with Interactive Brokers.If your business has five or more employees and managed to survive Covid you could be eligible to receive a payroll tax rebate of up to twenty-six thousand dollars per employee. Find out if your business qualifies with Innovation Refunds.Get personalized, expert advice that helps you see things clearly with ATB.Find an advisor who’s invested in you with iA Financial Services Inc.Join Steadily and BiggerPockets in recognizing and celebrating landlords nationwide by participating in the #AmericasBestLandlord contest. Find out how you can win $10,000 today.Enjoy a 400-calorie meal that contains 40g of expertly sourced, premium plant protein, all 26 essential vitamins and minerals, and a scientifically calibrated mix of carbs, good fats and fiber with Huel Black Edition. Plus, get a free t-shirt and free shaker with your first order.Support our free podcast by supporting our sponsors.  Connect with Daniel: Website | Twitter Connect with Robert: Website | Twitter | Instagram See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.


11 Nov 2022

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Show Us Your Portfolio: Dr. Daniel Crosby

Excess Returns

In this edition of Show Us Your Portfolio, we speak with Dr. Daniel Crosby. Daniel is an expert an investor behavior and the Chief Behavioral Officer at Orion. We speak with Daniel about how he thinks about constructing his personal portfolio and the steps he takes to limit the negative effects of behavior in it. We also discuss his views on both equities and bonds and how he incorporates them into his strategy, how he thinks about 529 plans and college savings, his views on leaving money to his children, some of his biggest investing mistakes and a lot more.  We hope you enjoy the discussion.  ABOUT THE PODCAST Excess Returns is an investing podcast hosted by Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau), partners at Validea. Justin and Jack discuss a wide range of investing topics including factor investing, value investing, momentum investing, multi-factor investing, trend following, market valuation and more with the goal of helping those who watch and listen become better long term investors. SEE LATEST EPISODES https://www.validea.com/excess-returns-podcast FIND OUT MORE ABOUT VALIDEA https://www.validea.com FOLLOW OUR BLOG https://blog.validea.com FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FOLLOW JACK Twitter: https://twitter.com/practicalquant LinkedIn: https://www.linkedin.com/in/jack-forehand-8015094 FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau

1hr 1min

13 Oct 2022

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212. That Time I Went Viral… with Dr. Daniel Crosby

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

Before I introduce you to this week's guest, I want to take a moment to celebrate a very special anniversary...two days before this episode airs, on July 6, 2022, we celebrated the four-year anniversary of The Brainy Business Podcast! Four years, 212 episodes (including this one, of course) and we are also dangerously close to 600,000 downloads of the podcast from over 170 countries, which is so awesome! (Pretty confident this episode will push us over that threshold…) I am so excited to introduce you to Dr. Daniel Crosby. In this episode, we talk a little about his books and the work he does in behavioral science around investing, which is very cool and so relevant. Investing is a time when we tend to throw logic out the window and the subconscious runs a bit rampant. But the main reason he is here today is that he recently had a tweet go viral. It had nothing to do with his work, and seemed like a fascinating opportunity to hear what it was like to create a tweet like that and live in the space of something everyone says they want -- to go viral -- and see what it has done for him personally, for his business, outlook...and any insights on what this says about human behavior that we can keep in mind for all the application in business. As I'm sure you can appreciate, this is so relevant to his work in investing and how people will randomly jump on one bandwagon over another and invest because the herd is doing so even when they haven't done their own research. Check out the episode to hear him tell you all about his viral tweet! Show Notes: [00:48] Two days before this episode airs, on July 6, 2022, we celebrated the four-year anniversary of The Brainy Business Podcast! [02:35] In the episode today, we talk a little about Daniel’s books and the work he does in behavioral science around investing, which is very cool and so relevant. [05:40] Daniel shares about himself, his background, and the work he does. [07:31] He loves studying human behavior and thinking deeply about why people do the things that they do but he didn’t want to do it in a clinical context.  [08:57] He has two popular books: The Behavioral Investor and the Laws of Wealth.  [11:03] The Laws of Wealth is his “ten commandments of investor behavior” and it talks about the power of behavioral principles.  [12:50] The Behavioral Investor is a deeper dive into externalities that are incredibly important but often overlooked.  [14:40] Dr. Crosby’s top investment tips: automate, have a financial process, and get a third-party opinion on decisions.  [16:02] One of the reasons folks have such a hard time investing is because it is so counterintuitive.  [17:40] Our herding instinct does not serve us well in investing.  [20:38] Daniel’s went viral with a tweet.  [22:17] When he figured out what was causing his tooth pain he decided he needed to make better health decisions and gave up Diet Coke.  [23:44] He snarkily tweeted that he had given up Diet Coke over a month ago and he didn’t have any of the joys people told him he would receive.  [24:39] Elon Musk responded to his tweet and it went crazy with over 32 million views and over half a million likes and retweets.  [26:34] Part of what made his tweet go so viral was that there were at least two camps chiming in the comments, especially Diet Coke addicts. It also went viral on TikTok and Instagram.  [28:12] It struck something powerful in two very different groups of people.  [28:39] The most fascinating piece to him was follower count because he initially lost thousands of followers and then he ended up about where he started.  [29:55] His analytics showed that he gained 87 followers from a tweet that 32 million people saw in one day. It shows that going viral in an off-brand way doesn’t do much for you.  [32:28] We spend so much time thinking about going viral and then it often doesn’t help much.  [33:42] It was uncomfortable for him to have the heat turned up that high and know that many people were looking at him.  [35:40] He decided not to use the viral tweet for self-promotion or business because the content was very different.  [36:32] Melina shares an article that she recently wrote for Inc. about Brand Lessons from the Michelob Ultra Guy.  [39:18] Daniel shares about the Ocean Spray guy and his interaction with an intern at Diet Coke. He got a 24-pack and 2 six-packs of free soda.  [42:08] Usually we expect viral posts to be over the top. His tweet was surprising, it was funny and still vanilla.  [44:53] There is nothing so low stakes on the internet that people can’t make a big deal about it. It gave him the sense of the power of a crowd so it actually made him go into his shell a bit.  [47:24] Melina shares her closing thoughts. [47:52] Melina shares Daniel’s full viral tweet. [49:02] We as humans feel this need to strive for that silver bullet...the one thing that will change everything, but in reality, it is a lot of little things that add up to a life and business that makes a difference. [50:45] Don't sit around hoping and lamenting over that one thing that could change everything. Instead, focus on one thing you can do each day to get a little bit closer to your goals and show up where it counts, so people can rely on you and your content. [51:44] Whenever you are listening, will you pay it forward and share an episode with a friend? If you love the Brainy Business, let's share it with more people from around the world who would love to be a little more brainy. None of this would be possible without you, so thank you again for listening, subscribing, sharing, rating, and leaving reviews. I appreciate you! Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business: 🎉🎉🎉 Buy Melina’s award-winning book, What Your Customer Wants and Can’t Tell You on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia 🎉🎉🎉 Get the Books Mentioned on (or related to) this Episode: The Behavioral Investor, by Daniel Crosby Laws of Wealth,  by Daniel Crosby Using Semiotics in Retail, by Rachel Lawes The Hype Handbook, by Michael F. Schein What Your Employees Need and Can't Tell You, by Melina Palmer Connect with Daniel:  Daniel on LinkedIn Daniel on Twitter Top Recommended Next Episode: Booms, Bubbles and Busts (episode 30) Already Heard That One? Try These:  Precommitment (episode 120) Herding (episode 19) Prefactual Thinking  (episode 71) Counterfactual Thinking  (episode 68) Social Proof (episode 87) What is Value? (episode 8) Status Quo Bias (episode 142) Optimism Bias (episode 34) The Science of Opinions, with Dr. Andy Luttrell (episode 173) Using Semiotics in Retail with Rachel Lawes (episode 191) Designing for Behavior Change, Interview with Dr. Steve Wendel (episode 116) Time Discounting (episode 51) The Hype Handbook, an Interview with Author Michael F. Schein (episode 143) Get Your D.O.S.E. of Brain Chemicals, a Behavioral Economics Foundations Episode (epiosde 123) Creating Content People Can’t Help But Engage With featuring Katelyn Bourgoin (episode 201) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter  Daniel’s Viral Tweet 3 Brand Lessons From The Michelob Ultra Guy Standard Deviations Podcast Check out What Your Customer Wants and Can’t Tell You on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia


8 Jul 2022

Most Popular

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Guiding Clients through Market Downturns with Rusty Vanneman and Dr. Daniel Crosby

The Model FA

Rusty Vanneman is the Chief Investment Strategist of Orion Advisor Solutions. An industry veteran with over 30 years of experience, Rusty has managed multiple mutual funds and hedge funds throughout his career. Before joining Orion, Rusty served as the President and Chief Investment Officer of CLS Investments. He was also a senior analyst at Fidelity Management and Research and previously worked for Thomson Reuters and General Electric. Rusty received his Bachelor of Science degree in Management from Babson College in Wellesley, Massachusetts. In addition to his work at Orion, Rusty hosts The Weighing Machine podcast and is the author of the book, Higher Calling. Dr. Daniel Crosby is the Chief Behavioral Officer of Orion Advisor Solutions. A psychologist and behavioral finance expert, Daniel specializes in helping organizations understand the intersection of minds and markets. Before joining Orion, Daniel served as the Chief Behavioral Officer of Brinker Capital. He was educated at Brigham Young University, where he completed his Bachelor’s degree and Ph.D. in Psychology. He is also the author of the New York Times bestseller, Personal Benchmark, as well as The Laws of Wealth, which the Axiom Business Book Awards named the best investment book in 2017. His latest work, The Behavioral Investor, takes an in-depth look at how sociology, psychology, and neurology impact investment decision-making. Rusty and Daniel join us today to discuss how financial advisors can connect with their clients and guide them through difficult economic conditions. They explain how they encourage their clients to continue on their investing path. They describe why it’s important for advisors to highlight their services’ features rather than their technical aspects. They also enumerate the five elements of wellness and underscore why the success of a financial advisor’s business and career relies on self-care and wellbeing. “We have to convey to our clients that we’re partners in the journey, and our ability to get there is only as good as their ability to take the ride.” - Dr. Daniel Crosby This week on The Model FA Podcast: How financial advisors can communicate their value proposition to their clients The value of communicating technical aspects as features How financial advisors can encourage their clients amid challenging economic times The five elements of wellness and the role of self-care in a financial advisor’s life The first thing financial advisors need to do when the markets take a downturn Why everyone should explore existentialism and stoicism Resources Mentioned: Book: A Guide to the Good Life: The Ancient Art of Stoic Joy by William Irvine Book: Man’s Search for Meaning by Viktor Frankl Book: Think and Grow Rich by Napoleon Hill Our Favorite Quotes: “To have a thriving business and happy clients—whether the market is crushing it or crashing down—you need to be the best version of yourself mentally, physically, emotionally.” - David DeCelle “Whatever the normal person needs to do from a self-care perspective, the financial advisor needs to do even more because of all the bullets they take.” - David DeCelle “A confident advisor will create a confident investor.” - Rusty Vanneman Connect with Orion: Orion Portfolio Solutions Orion Practice Management Orion Advisor Tech on LinkedIn Orion Advisor Tech on Twitter Connect with Rusty Vanneman: Book: Higher Calling: A Guide to Helping Investors Achieve Their Goals Podcast: The Weighing Machine Rusty Vanneman on LinkedIn Rusty Vanneman on Twitter Connect with Dr. Daniel Crosby: Book: The Behavioral Investor Book: Personal Benchmark: Integrating Behavioral Finance and Investment Management Podcast: Standard Deviations Daniel Crosby on LinkedIn Daniel Crosby on Twitter About the Model FA Podcast The Model FA podcast is a show for fiduciary financial advisors. In each episode, our host David DeCelle sits down with industry experts, strategic thinkers, and advisors to explore what it takes  to build a successful practice — and have an abundant life in the process. We believe in continuous learning, tactical advice, and strategies that work — no “gotchas” or BS. Join us to hear stories from successful financial advisors, get actionable ideas from experts, and re-discover your drive to build the practice of your dreams.  Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered.  Our Team: President of Model FA, David DeCelle If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.


28 Jun 2022

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The Behavioral Investor: How Our Minds and Emotions Can Ruin Our Investment Portfolios with Dr. Daniel Crosby

Don't Retire...Graduate Podcast

Welcome to the season four finale of Don’t Retire... Graduate! We’ve had amazing guests this season and couldn’t be more excited to finish with today’s guest. Dr. Daniel Crosby is a psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets and explores the way our brains affect our choices when it comes to money. He is here to talk about the way mental biases can affect our decision making and make us uniquely stupid when it comes to money (his words, not ours).  In this episode we’ll talk about: •Behavioral finance and looking at the role psychology plays in our financial lives  •How people are uniquely stupid when it comes to money and how the brain reacts when thinking about money •The biases we all can fall victim to that can negatively affect our investments  •Decision making styles applied to money versus everywhere else in our lives •The performance of Amazon stock over the past twenty years •Day trading and how active investors tend to underperform  •Action bias, confirmation bias, investing alongside your political party, investing alongside your morals, loss aversion, the house money effect, and mental accounting and how they all affect our financial choices  •The value of a financial advisor versus doing it yourself  •Results of studies on financial advising, including investors working with advisors accumulating far more wealth than those without advisors  •The meaning of the term fiduciary and how it applies to finance and psychology  •Giving up on dreams of professional sports careers •Positive psychology, PERMA, and Dr. Martin Seligman’s contribution  Visit dontretiregraduate.com for a full transcript of this episode. Dr. Crosby's Book About Daniel Crosby Dr. Daniel Crosby is a psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets. Dr. Crosby's first book, Personal Benchmark: Integrating Behavioral Finance and Investment Management, was a New York Times bestseller. His second book, The Laws of Wealth, was named the best investment book of 2017 by the Axiom Business Book Awards and has been translated into 7 languages. His latest work, The Behavioral Investor, is a comprehensive look at the neurology, physiology and psychology of sound financial decision-making.   https://www.standarddeviationspod.com


16 Jun 2022

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The Evolution of Behavioral Finance ft. Dr. Daniel Crosby

Internal Use Only

Dr. Daniel Crosby, Chief Behavioral Officer at Brinker Capital, joins today's show. We discuss:His non-traditional route to the finance industryHow people are impacted by "gamification" of Robinhood and NetflixTool & Resources for behavioral finance that can be used by advisors and wholesalershttps://blog.brinkercapital.com/category/behavioral-finance/https://www.linkedin.com/in/danielcrosby/https://podcasts.apple.com/us/podcast/standard-deviations-with-dr-daniel-crosby/id1241946146


11 May 2022

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What Most People Misunderstand About Investing With Dr. Daniel Crosby (EP.47)

The Long Term Investor

Dr. Daniel Crosby, a psychologist and behavioral finance expert joins the show to talk about the things we get wrong and how to get them right. Listen now and learn: What most people misunderstand about investing The 3 things required to change financial behavior How your environment can dramatically alter the decisions you make Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.


11 May 2022

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36. Taking the Emotion Out of Investing with Daniel Crosby

The Tech Money Podcast

The underlying theme of the stock market and the way it functions is that we are all rational actors in a rational world, acting on the very same publicly available information at the very same time. But the reality is that we are all irrational beings, living in an irrational world. We frequently do things … Continue reading 36. Taking the Emotion Out of Investing with Daniel Crosby →


20 Apr 2022

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The “B” in Beta Stands for Behavior With Daniel Crosby (Ep 16)

Rethink. Financial Advice

Is it possible that the biggest influence on investor outcomes is their own behavior?  How can advisors quantify and help their clients capitalize on one of the biggest value propositions often unspoken.  Join Adam and Derek as they interview Dr. Daniel Crosby in the Rethink Tank for his unique and frank perspective on where advisors can add more alpha through behavior management.  Dr. Daniel Crosby is the Chief Behavioral Officer at Orion Advisor Solutions, a best-selling author and keynote speaker.Daniel Crosby discusses:How to quantify the value advisors haveThe implications behavior has on financial outcomeThe importance of trust in the financial advisor market How to win by out-competing on the human side of moneyAnd moreResources:Follow RethinkFA on LinkedInThe Behavioral Investor by Daniel CrosbyAdvisors add 2.88% in value, study findsConnect With Daniel Crosby:Linkedin: Daniel CrosbyOrion Advisors: Daniel CrosbyConnect With Adam Holt:support@asset-map.com 888-664-8850Asset-Map LinkedIn: Adam HoltLinkedIn: Asset-MapFacebook: Asset-MapTwitter: Asset_MapYouTube: Asset-Map Connect With Derek Notman:ConneqtorLinkedIn: Derek NotmanLinkedIn: Conneqtor Twitter: Derek NotmanTwitter: ConneqtorFacebook: Conneqtor YouTube: Derek Notman About Our Guest:Daniel Crosby is the Chief Behavioral Officer at Orion Advisor Solutions. In this role, he is responsible for bringing behavioral tools, training, and technology to financial advisors to allow for the practical application of behavioral science. He is a psychologist and behavioral finance expert who applies his study of market psychology to everything from financial production design to advisor-client engagement. Daniel has more than 10 years of experience in the financial services industry and has published a number of bestselling books that serve as guides to building stronger advisor-client engagement with a focus on achieving better outcomes. Hosted on Acast. See acast.com/privacy for more information.


2 Mar 2022